January 13, 2015 0 Comments
Facebook is gearing up for 2015 with two fresh acquisitions. The social network has recently acquired Wit.ai, a speech recognition startup and QuickFire Networks, a video compression startup. According to TechCrunch, as part of Facebook, Wit.ai could help develop the company’s voice control tools, including voice-to-text input for Messenger. It can also improve Facebook’s understanding of the semantic meaning of voice and create apps that can be controlled through speech. Wit.ai claims that over 6,000 developers are already using its technology, which powers hundreds of apps and devices. QuickFire Networks, on the other hand, has its proprietary technology that can lower bandwidth requirements for videos without sacrificing quality. It is said that an estimated 1 billion videos per day are viewed on Facebook; QuickFire can easily solve this capacity problem and provide bandwidth-friendly video experience to consumers. These two new acquisitions underscore Facebook’s ambition to become an app and video powerhouse.
© 2017 Online Agility Investments, Acquisitions and Venture Capital Database | Internet DealBook. All Rights Reserved.